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Cyprus May Ask for Financial Aid from Both the EU and Russia, says Christofias

Cyprus’ president Demetris Christofias is trying to collect money to improve his country’s financial situation and avoid collapse. As expected, he has addressed the states that have always supported Cyprus such as Russia. This does not mean, however, that he would refuse financial aid from the EU, comments the Cypriot politician.

Demetris Christofias is the EU’s only communist head of state and has studied in Moscow. His response to journalists who claim that his close relations with Russia could damage his ties with Europe is that “it is perfectly normal for a country to look to all its allies for help.”

Cyprus begins its six-month presidency of the EU in a very bad period for the country’s funds. As a result, Christofias’ statements have captured press attention. Some reporters declare that the Cypriot president’s tight ties with Russia could lead to negative consequences for the island, but Christofias seems to be a rather hard nut to crack.

“We could combine both,” says Christofias in regards to financial aid from Russia and the EU.

Officials from the ECB, the European Commission and the IMF, together known as the ‘troika’, are in Cyprus this week to make assessments on the country’s financial needs.

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